The CBI is examining the balance sheets of 18 India-based subsidiaries of the Gitanjali group of firms, promoted by Mehul Choksi, to get a grip on the trail of funds the group took from banks on the basis of guarantees furnished by Punjab National Bank (PNB).

The agency on Sunday evening did searches at the Brady Road branch of PNB in Mumbai, and the operation is likely to continue till morning. CBI officials said the agency was questioning Gokulnath Shetty, a retired PNB official; Manoj Kharat, a serving one; and a signatory of a company run by Nirav Modi, the co-accused, apart from other officials of PNB.

Singapore Exchange Ltd (SGX) said on Monday it will launch successor products to its flagship Indian equity index derivatives before the bourse's licence agreement with the National Stock Exchange of India (NSE) expires in August 2018.

The move comes days after India's three main bourses unexpectedly announced they would stop licensing their indexes to overseas exchanges, news which hit SGX's shares as brokers cut the bourse's earnings estimates.

The first day of the Magnetic Maharashtra investors’ summit here on Sunday saw Reliance Industries Ltd (RIL) promising investments of Rs 600 billion into the state, the Mahindra Group pledging Rs 23.25 billion and the Virgin Group signing an “intent agreement” with Maharashtra to build a hyperloop transportation system between Mumbai and Pune, to reduce travel time to 20 minutes from the three hours at present.

The Securities and Exchange Board of India (Sebi) has opened up the Indian capital markets to clients of global private banks, which can invest in stocks without having to go through registration or compliance requirements.

Until now, foreign banks were allowed to do propriety trades only. However, now they have been allowed to invest in domestic securities on behalf of their clients.

The Indian Space Research Organisation (Isro) is planning to launch Chandrayan-2 Mission around April this year. Chandrayaan-2 is the country's second mission to the moon.

The Union Minister of State (Independent Charge) of the Ministry of Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh said that Indian Space Research Organisation (Isro) is planning to launch Chandrayan-2 Mission around April this year.

Reliance Industries’ (RIL) wholly owned subsidiary Reliance Industrial Investments and Holdings (RIIHL) proposes to acquire equity shares of The Indian Film Combine (IFC), for `1,105 crore, according to a statement on stock exchanges. As part of the transaction, RIIHL will be acquiring 65% of current paid-up equity share capital of IFC from the existing shareholders. This will include 20% from the Mauritian arm of Xander Group Inc based in the US for `340 crore and 45% from entities belonging to the promoter group of RIL for `765 crore.

Hinduja flagship commercial vehicle major Ashok Leyland has been granted a patent for its invention related to a technology for real-time road slope estimation, which could be used in predictive systems for improving fuel economy of vehicles.

The company’s invention comprises an apparatus for estimation of slope of the road taken by vehicles and by anticipating the upcoming road profile, fuel tank sensors could flag off required actions to save fuel.

The Telecom Regulatory Authority of India (Trai) on Friday issued regulations on predatory pricing, which imposes a penalty of up to `50 lakh per circle on mobile operators if they are found to indulge in such practices. While the regulator has defined predatory pricing for the first time, it won’t affect the existing players in any manner as far as their current tariffs have been designed.

Reliance Jio has tied up with 22 handset manufacturers and will offer to new as well as existing subscribers cash back of `2,200 if they purchase a smartphone and recharge it with the operator’s `198 or `299 plans.

The operator accounts for 50% of the 4G handsets market share and through the ‘Football Offer’, it aims at increasing its subscriber market share.

Self-drive car rental start-up Zoomcar has raised $40 million in a Series C funding round led by auto major Mahindra & Mahindra (M&M). The funding round also saw participation from existing investors. M&M will be investing `176 crore for a near 16% stake in the company.

The investment by M&M assumes significance given recent comments by its chairman Anand Mahindra in support of shared mobility.

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